| Implementing Sector | Local |
|---|---|
| Category | Financial Incentive |
| State | Pennsylvania |
| Incentive Type | Loan Program |
| Web Site | http://www.metedpenelecsef.org/index.php |
| Administrator | Community Foundation of the Alleghenies |
| Utilities | Pennsylvania Electric Co |
| Eligible Renewable/Other Technologies | Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All), Biomass, Hydroelectric, Combined Heat & Power, Fuel Cells using Non-Renewable Fuels, Landfill Gas, Wind (Small), Fuel Cells using Renewable Fuels |
| Eligible Efficiency Technologies | Yes; specific technologies not identified |
| Applicable Sectors | Commercial, Industrial, Local Government, Nonprofit, Schools, State Government, Federal Government, Institutional |
| Maximum Loan | $500,000 (generally) |
| Loan Term | Vary according to project |
FirstEnergy (formerly GPU) established the Metropolitan Edison Company Sustainable Energy Fund and the Penelec Sustainable Energy Fund in 2000. The Community Foundation for the Alleghenies in Johnstown, Pennsylvania administers the Penelec loan and grant components of the Fund, which has assets of approximately $9.1 million. The majority of funding available from the fund takes the form of investments made in businesses pursuing one or more of the fund’s objectives. These funds typically will be distributed as loans or equity investments. The program is open to any individual, organization, governmental entity, or corporation. Penelec Sustainable Energy Fund and Metropolitan Edison Sustainable Energy Fund share an advisory committee and are commonly referred to in the singular as the Met Ed / Penelec Sustainable Energy Fund.
The fund is designed to promote:
As identified on the program web site, specific types of projects eligible for loans may include renewable electricity generation projects for on-site use or grid supply; projects involving the development of a sustainable energy technology (e.g., solar panel manufacturing); businesses that use renewable energy in the operation of a business; and businesses that enhance energy efficiency and conservation.
Examples of projects funded in the past are available on the program web site, along with details of the investment guidelines.
